Purplebricks boss who rescued online estate agency for £1 to step down

The chief executive of Purplebricks is to step down as the online estate agency undergoes a major restructure.

Sam Mitchell has been the CEO of Strike since January 2018 and took over the same role at Purplebricks in June 2023 after the company was acquired for just £1 after falling into financial difficulties.

Mitchell has previously held roles with the likes of Rightmove, Sotheby’s, Your Move and Foxtons.

The group is to switch to operating with distinct businesses in sales, mortgages and lettings.

A fourth division is expected to be announced in the coming months.

‘I will remain your loudest cheerleader’ – departing Purplebricks CEO

Writing on LinkedIn, Mitchell said: “After seven years I am stepping down from my role as CEO.

“Some amazing memories; from all the testing we did as Housesimple, to launching Strike in the midst of a pandemic (sell your home, from your phone, for free), growing to become the second biggest agent in the country within two years, starting an FS business that wrote over £1bn in lending in just our second year, to acquiring Purplebricks, integrating the two businesses, relaunching PB, getting rid of deferred fees and mandated services, slashing prices for customers and introducing a free service getting PB back to its number one market share spot…. It’s been quite a journey.

“Thanks to everyone for all their hard work and support, as particular thanks to Andrew Harrison and the team at Freston Ventures for giving me this opportunity, it’s been a real privilege.

“I’ve been lucky enough to work with some incredible people who genuinely care about building something special for customers.

“I shall miss you all very much and will remain your loudest cheerleader.”